CryptoQuant community analyst Maartunn made the observation that the speed of the registry XRP Ledger (XRPL) has seen significant gains over the past few weeks.
Velocity is calculated by dividing the cryptocurrency market capitalization by the transaction volume. A rise in this indicator can be considered the first sign of an impending price surge. XRP .
XRPL usage also followed the price surge XRP after the US elections. Token rose from $0,5319 on November 6 to a peak of $2,82 on December 3—up 430% in less than a month.
Despite the increase in speed, the total value locked in the blockchain has been declining since December 16, falling from $71,5 million to $58 million (data from DefiLlama). This represents a decline of almost 20%.
In addition to the locked value, XRPL also trades $5 million worth of tokenized treasury bills issued by Open Eden.
The improved performance of the ledger could also be driven by traditional companies tokenizing real world assets (RWAs) on XRPL, including through the recently launched RLUSD stablecoin.
Bitwise analysts predict that the RWA market could grow to a hefty $3 trillion in the foreseeable future.
